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Eurnzdanalysis

EurNzd could rise to 1.9- Long term outlookEurNzd is a very volatile pair and for sure is very risky to trade it in the short term, however, if you take a look at the longer picture and ignore 100+ pips usually daily volatility, you can find pretty nice opportunities. I think this is the case right now... EurNzd has been in a bull trend for quite some time and from May to August the pair formed a nice ascending triangle which was broken at the beginning of August. A retest of the broken resistance level followed, and a quick reversal after the touch. Also, this correction from 1.8446 top is a bullish flag and once broken, would suggest continuation. This, correlated with the 1k pips target given by the triangle, could lead to a rise to 1.9. That being said, I'm bullish EurNzd in the long term and I think the pair will reach 1.9 by year's end. Happy trading! Mihai Iacob
Long
by Mihai_Iacob
2
Are You Ready to Capitalize on the 1.822 Resistance Level?Examining the Monthly and Weekly charts, it's clear that this pair is on the verge of some critical areas on the higher timeframes – an exciting potential for spotting favorable selling opportunities. The first hotspot revolves around the Monthly resistance area at 1.822. Remarkably, just yesterday, the price came incredibly close to tapping this level. It's intriguing to consider if this might have been a clever stop-hunting maneuver, especially considering the price's swift pop above the previous resistance at 1.80500, followed by a prompt sell-off. To visualize this, take a glance at the image below This could well be the turning point for a more pronounced correction, though I'd certainly wait for confirmation. It's worth noting that the price has managed to stay perched above the 1.805 level, hinting at the possibility of an upward thrust, even aiming above 1.82. Explore this perspective in the image below Personally, my optimal approach involves patiently awaiting a price climb to 1.82, then making use of my TRFX indicator. I'd only dive into the trade once the Daily chart signals align with my strategy. Additionally, I'll be keen to spot any potential Daily signals within the present levels. As for potential targets in this trade, my sights are set on the former swing high resistance, now transformed into support, positioned at 1.75. This level is poised to attract considerable buying interest and could act as a strategic regrouping point for buyers, potentially fuelling the market's push toward the subsequent resistance region at 1.86. This also signifies the commencement of a Monthly supply/sell zone. Thus, I'm eyeing around 1.75 as my initial profit target, anticipating some sort of buying surge or a wave of profit-taking. If a subsequent response unfolds, wherein sellers regain influence and buyers struggle to secure new highs, there's potential for a more substantial retreat towards the 1.70 territory. This aligns perfectly with a Monthly demand/buy area. See a chart visual below I realize my posts might be a bit exhaustive, but dissecting my chart observations is my way of refining my trade ideas. Hopefully, this account proves both enlightening and insightful. Happy reading and trading!
Short
by TheFxAce
12